Now raising intellectual capital
Throwing money from helicopters, Bank version
A bit late, I know, but this page is well worth a look if you haven’t seen it. If you thought there was a difference between the Bank of England’s sophisticated programme of Quantative Easing and throwing fivers out of a helicopter to a grateful populace, this diagram should convince you that they are much the same thing.
Pedants may point out that we’re not getting the dosh directly, and they’d be right, but when the government can print the money to dish out as benefits to the one-third of UK households which are now dependent on them, the difference is academic.
On the other hand, perhaps the whole QE charade merely reflects the shortage of helicopters, since our only two serviceable ones are in Afganistan.
Hat tip to Jim Leaviss at Bond Vigilantes.